Research On Repurchase Contract Model Of Supply Chain Under Fund Restrictions Of Retailer

With the deepening of global cooperation,the concept of supply chain linked to the manufacturers began to appear in people's vision,the supply chain enterprises need more effective collaboration to achieve maximum supply chain profits.When retailers face financial constraints and market risk,manufacturers can help retailers to borrow money from banks and share market risks through repurchase contracts.Repurchase contract parameters can be reasonable and accurate design,a direct impact on the profits of enterprises in the supply chain.The model of this paper studies the design of repurchase contract parameters of a secondary supply chain composed of a single manufacturer and a single retailer.Where the manufacturer is the leader of the Stackelberg game,designing the contractual parameters at the beginning of the operational cycle and providing the repo contract to the retailer.The retailer chooses whether to participate in the game according to the contract parameters given by the manufacter.If the participation is selected,the retailer determins the corresponding order quantity and does not have the ability to desiign the parameters.This article assumes that both the manufacturer and the retailer are risk neutral,the manufacturer is adequately funded,and the retailer has financial constraints.When the retailer's own cash is not sufficient to pay the required order amount,the loan is chosen to the bank.At the beginning of the operating cycle,the manufacturer makes a repurchase price and the wholesale price based on the retailer's own cash level.The retailer decides the order quantity and whether or not a loan is required.At the end of the operating period,the manufacturer repurchases all the unsold merchandise and the retailer repays the bank loan.In this paper,through the mathematical model analysis,the main study of the manufacturer announced the wholesale price and the repurchase price,the retailer in the different cash level under the optimal order decision problem;and the manufacturer according to the retailer's order decision design repurchase contract Parameters of the method;get different decision-making circumstances,the retailer order quantity should meet the applicable interval.In both cases of retailers with sufficient funds and retailer with funds shortage but no loan risk,the supply chain coordination under the repurchase contract is reached.Through the numerical example,it is found that the repurchase contract is applicable to the condition of sufficient funds and the shortage of the retailer.Through the analysis of the sensitivity of the system parameters,the influence of the change of the system parameters on the retailer's order quantity is discussed,and it is found that the repurchase contract does not apply to all market environment.